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What must a taxpayer do to properly document a deductible travel or entertainment expense?
Limited Liability
A legal structure that limits the financial liability of the owners to the amount of money they invested in the company.
Corporate Form
A legal structure for a business recognized by law as a separate legal entity from its owners, with its own rights and liabilities distinct from those of its owners.
Owner-Operated
Refers to a business where the owner actively manages and operates the company, often involved in daily tasks and decisions.
Portfolio
A collection of investments held by an individual or institution which may include stocks, bonds, real estate, and other assets.
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